Citi Financial
Loan Settlement

Hi,

I took a consumer loan way back in 2004 or something which was just about 14000 rupees, The complete amount was divided into 12 EMI's and I was supposed to pay 4 EMI advance Processing fee.

EMI was approx 1300 rupees for 8 months, I did pay 4 EMI's and rest 4 cheques got bounced as I was not in the city and was travelling during that time.

I have had other consumer loans, Perosnal loans, Car Loans and have paid all of them, these were from Banks like HDFC, CITIBANK, ICICI etc. Mind you amount with these banks were much higher than the loan with Citi Financial.

Now Citifinancial people never made an attempt to approach me for last 6 years for their amount and to be honest they have still not approached me however they have listed me as a defaulter in CIBIL for a balance Princial amount of just Rs. 5200/-.

I got to know this a week back when applied for a small consumer loan with Bajaj Finance.

Now I made an attempt to reach to citifinancial and requested them to close the account they mentioned that there is 34000/- pending apart from the principal amount which is on account of late payment charges etc.

This is absolutely robbing people, my loan was just 14000 out of which I paid approx 10000 and six years down the line I come to know that I am still supposed to pay approximately 40000.

If anyone from Citi Financial would have approached me, I would have certainly made the payment.

Guys, please let me know if there is a solution to these kind of robberies being done by Financial Institutions.

Company: Citi Financial
Country: India
State: Haryana

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